(Advertisement)

Mortgage woes, foreclosure fouls to cost big banks

1 to pay Fannie Mae $10 billion

By DEMOCRAT-GAZETTE STAFF FROM WIRE REPORTS

Posted: January 8, 2013 at 3:35 a.m.

RICHARD DREW
Credit: AP
 People pass a Bank of America branch Monday in New York. Bank of America will pay $10.3 billion to the government mortgage agency Fannie Mae to settle claims resulting from mortgage-backed investments that soured during the housing crash.

Bank of America agreed Monday to pay more than $10 billion to Fannie Mae to settle claims over troubled mortgages that soured during the housing crash, mostly loans issued by the bank’s Countrywide Financial subsidiary.

This story is only available from our archives.

Front Section, Pages 1 on 01/08/2013

(Advertisement)



« Previous Story

‘4K’ TV is lead gadget at show

Panasonic’s Vic Carlson introduces the new Ultra-HD television during a news conference Monday at the International Consumer Electronics Show in Las Vegas.

LG unveiled a 55-inch TV that sports “ultrahigh-definition ” resolution on Monday, kicking off what is likely ... Read »

Next Story »

After Aurora shooting, suspect calm, relaxed,...

Aurora police officer Justin Grizzle leaves court after testifying at a preliminary hearing for James Holmes at the courthouse in Centennial, Colo., on Monday. Grizzle fought to keep his composure during his testimony, in which he described wounded people trying to run and crawl away from the theater.

A police officer testified at a preliminary hearing Monday that when he responded to emergency calls about a m... Read »

Comments

To report abuse or misuse of this area please hit the "Suggest Removal" link in the comment to alert our online managers. Please read our comment policy.

Use the comment form below to begin a discussion about this content.

Registration is required to make comments. Click here to LOGIN.
You can register for FREE to post comments and receive alerts.